"Anti-Money Laundering and Combating the Financing of Terrorism," a World Bank Global Dialogue Series, was inaugurated on January 24, 2002. The first dialogue in the series covers several countries from the World Bank's Europe and Central Asia (ECA) region-Kazakhstan... See More +"Anti-Money Laundering and Combating the Financing of Terrorism," a World Bank Global Dialogue Series, was inaugurated on January 24, 2002. The first dialogue in the series covers several countries from the World Bank's Europe and Central Asia (ECA) region-Kazakhstan, Latvia, Romania, Russia, and Ukraine. The Global Dialogue was a live videoconference conducted over the World Bank's Global Distance Learning Network. Three hours in length, it involved more than 85 participants from financial intelligence units, central banks, ministries of finance, ministries of justice, ministries of internal affairs, state securities commissions, presidential administration, and other institutions. The event provided a unique opportunity for five ECA countries, the World Bank, the International Monetary Fund, and the Council of Europe to discuss the challenges they face in combating money laundering and the financing of terrorism. The participants learned about the progress of each country and identified the type of assistance they need to make further progress. Moreover, they recognized the paramount importance of framing and addressing the challenge of money laundering within the broader context of improving governance and combating corruption and fraud in the private financial and public sectors. Anti-Money laundering and Combating the Financing of Terrorism efforts cannot be effective in isolation from national and transnational governance, or by merely adopting conventions and declarations. This first videoconference sets the stage for additional regional dialogues that aim to expand the international knowledge base on money laundering and terrorist financing. Important issues emerging from the dialogue and areas for future international assistance are summarized in this report.
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